Help needed with re-sale for first timer!

[Debs Hill]

We want to add on some points, either at OKW or BWV and are looking for a re-sale. I've got some basic questions that I'm hoping you guys can help me out with!
1) How does it work?!.....do I contact them and make an offer based on what's available and then we bargain from there on in?
2) Do they offer finance, or do you have to arrange it yourself, or have cash?
3) How complicated is the whole process and how long does it take?
Many thanks

 

[dbond]

We purchased an add-on resale a couple of years ago, it's very simple. Are you particular about what use year? We had our name on a waiting list with The Timeshare Store for OKW/June use year. When an addon came available with them that met our criteria, they called us before the points were even advertised. So, you might want to call a couple of the more popular brokers and ask what they have available that may not be posted yet and also ask if you can get on a waiting list for something specific.
Most brokers can arrange financing, but their interest rates may not be as good as you could get locally. Resale takes a little longer than buying through Disney, typically about couple of months. You can negotiate the closing costs and the maintenance fees with the seller, be careful what your willing to pay in extra costs for an add-on, your per point price really adds up fast when you consider the extra costs. Also, we had our name on a waiting list with MS a couple of years back for add-ons at OKW and we were contacted by them when they had some points that became available. You might contact MS and ask about what those chances are in the future. Good luck!

 

[Debs Hill]

Thank you for that info, I'm going to contact them with my requirements. I've seen OKW for anything from $64 per point to $72, how much would Disney sell them to you for if they became available. Does anyone know?!

 

[dbond]

If add-ons became available through DVC, they would sell them to you at the current rate, whatever that is now, $80? I'm not sure. But, don't count that out because of the higher price, once you consider the closing costs and maintenance fees through resale for a smaller amount of points than a full contract, sometimes it works out to be about the same. You just have to do the math to make sure you're not paying more for the total package than it's actually worth.

 

[rae519]

We just got 150 points at $68.00/point at VWL. IF you need financing, The Timeshare Store, Inc. will direct you to Tammac Financial Corp. Currently they are giving a rate of 11.5%. Our Credit Union is doing 8.9% right now- much better rate.

It was pretty easy to do and took 2 months from start to close, but that included our vacation, and three major holidays.

Rae